I am not sure if you can name the company if you are making a negative comment, so, to be on the safe side I will not tell which firm increased their fees in one year by such a large amount.

 

In 2018 my coverage cost me 77,000 and in 2019 it will go up to 107,000, that's a 39% increase for a 5,000,000 policy.

 

I turned 62 this year, so the huge jump was not due to moving from one age group to another. i.e. turning 50 after being in the 45 to 49 age group. When I move up an age group I expect a rather hefty increase. My usual year over year increases have been in the 3% to 4% range. My age group jumps normally run 15% to 20%.

 

Can anybody explain why this happened?

Greed and because they can...as you get older you become more of a liability to the bottom line profits...do not expect loyalty...may need to consider placing money in a healthcare-savings account to use in an emergency...otherwise pay your normal healthcare expenses out-of-pocket.

You can name the company, and it would be helpful.

 

 

 

 

I agree, there is nothing defamatory in your OP, so no reason not to mention the name of your insurance company. If you do, maybe someone using the same company know the reasoning behind the increase.

 

Sophon

Cigna?

 

They've been carpet-bombing my inbox with imminent rate hike advisories after I solicited an online quote from them a few months back.

26 minutes ago, NanLaew said:

Cigna?

 

They've been carpet-bombing my inbox with imminent rate hike advisories after I solicited an online quote from them a few months back.

Never ever get a quote online for insurance. I made the mistake with Regency for expats and now i get their super annoying ads every 30 mins on you tube and developed a dislike for British accents